John Dramani Mahama, the Flagbearer of the National Democratic Congress in the 2024 elections has made a passionate appeal to businesses and the investor community in Ghana, urging them not to leave the country amidst the current economic challenges.
He urged them to stay a bit longer, as he assured them that the next NDC government will ensure that a conducive environment is created for businesses and investors to thrive.
The former president attributed poor governance and an unfavourable economic environment to the exit of multinational companies such as Unilever's tea production unit, Game, Glovo, and BIC, among others.
“But we cannot despair over the poor quality of governance that has served us in the last seven and a half years. I wish to use this opportunity to appeal to you, captains of industry and the investor community, to tarry a bit more,” he said this speaking at the 8th Ghana CEO Summit in Accra on May 27, 2024.
“Please don’t leave our country. You can rest assured that a new NDC administration will work with you to create a conducive environment for businesses to thrive,” John Mahama assured.
Since 2022, unstable economic conditions in Ghana have compelled many international corporations to relocate their operations, citing strategic realignment and unfavourable operating conditions.
Factors such as the fluctuating value of the Ghanaian cedi, high inflation rates, and expensive imports have contributed to this trend.
These departures have not only impacted job creation and Ghana's GDP but also hindered overall economic growth and tax revenue.
“GAME, Glovo, Nivea, BIC Pen, Dark and Lovely have all shut down. Unilever has relocated its tea production to Nigeria.
— John Dramani Mahama (@JDMahama) May 27, 2024
Amid all this, our public debt has now hit a staggering 658.6 billion Ghana Cedis.
But we cannot despair over the poor quality of governance that has served…
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